Equinix initiated with an Overweight at Morgan Stanley

Morgan Stanley initiated coverage of Equinix (EQIX) with an Overweight rating and $950 price target which offers 16% upside. The firm sees the both data center operators benefiting from “robust industry growth tailwinds.” Equinix’s three-year guidance is achievable and will drive modest multiple expansion from current share levels, the analyst tells investors in a research note.